Kroger's meal kit deal reheats Blue Apron shares [Reuters]
Blue Apron Holdings, Inc. (APRN)
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Source: Reuters
Kroger's meal kit deal reheats Blue Apron shares | Reuters 3 Min Read SAN FRANCISCO (Reuters) - Shares of Blue Apron ( APRN.N ) climbed on Thursday after Kroger said it was buying Home Chef to broaden its menu in the home meal kit market while stock of Calavo Growers, whose unit partnered with Kroger on another meal kit service, slumped. Supermarket chain Kroger Co ( KR.N ) said late on Wednesday it would pay $200 million for Home Chef, and up to $500 million more if the service reaches targets for in-store and online sales of its personalized food kits. Kroger’s purchase of Home Chef sent shares of meal-kit pioneer Blue Apron Holdings 3.2 percent higher in trading on Thursday. Speculation it could be acquired has pepped up Blue Apron’s stock in the past, although the shares remain down 70 percent since the company’s initial public offering last June, with Wall Street worried about competition from Amazon.com and other retail heavyweights. Calavo Growers ( CVGW.O ), an avocado d
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